6,039,933 Shares in Target Corporation $TGT Acquired by Kingstone Capital Partners Texas LLC

Key Points

• Kingstone Capital Partners Texas LLC acquired 6,039,933 shares of Target Corporation ($TGT), valued at approximately $595.8 million, representing roughly 1.33% ownership at the end of the most recent quarter.
• Target announced a quarterly dividend increase to $1.14 per share, up from $1.12, with a dividend yield of 5.1% and a payout ratio of 53.15%.
• For its recent quarter, Target reported $2.05 earnings per share, surpassing expectations, with revenue of $24.99 billion, although this reflects a year-over-year decrease of 0.9%.

Kingstone Capital Partners Texas LLC bought a new position in Target Corporation (NYSE:TGT - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,039,933 shares of the retailer's stock, valued at approximately $595,839,000. Kingstone Capital Partners Texas LLC owned 1.33% of Target at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TGT. Brighton Jones LLC boosted its holdings in Target by 101.3% in the 4th quarter. Brighton Jones LLC now owns 6,080 shares of the retailer's stock worth $822,000 after acquiring an additional 3,059 shares during the period. Vident Advisory LLC lifted its stake in shares of Target by 17.7% in the fourth quarter. Vident Advisory LLC now owns 3,002 shares of the retailer's stock worth $406,000 after acquiring an additional 452 shares in the last quarter. Woodline Partners LP acquired a new position in shares of Target in the fourth quarter worth about $3,740,000. Waverly Advisors LLC lifted its stake in shares of Target by 7.3% in the fourth quarter. Waverly Advisors LLC now owns 32,200 shares of the retailer's stock worth $4,353,000 after acquiring an additional 2,178 shares in the last quarter. Finally, CSS LLC IL acquired a new position in shares of Target in the fourth quarter worth about $395,000. Hedge funds and other institutional investors own 79.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TGT. Loop Capital set a $95.00 price target on Target in a research note on Thursday, July 17th. Bank of America restated an "underperform" rating and set a $93.00 price objective (down previously from $105.00) on shares of Target in a research note on Friday, August 15th. Citigroup upped their price objective on Target from $94.00 to $100.00 and gave the company a "neutral" rating in a research note on Friday, August 22nd. Truist Financial upped their price objective on Target from $90.00 to $107.00 and gave the company a "hold" rating in a research note on Wednesday, August 13th. Finally, Wall Street Zen upgraded Target from a "sell" rating to a "hold" rating in a research note on Sunday, August 17th. Ten analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $112.69.

Target Stock Performance

Shares of NYSE:TGT traded down $1.30 during trading on Friday, hitting $88.12. 13,274,029 shares of the company traded hands, compared to its average volume of 7,472,747. The stock has a market capitalization of $40.04 billion, a price-to-earnings ratio of 10.27, a PEG ratio of 2.54 and a beta of 1.16. The business's fifty day moving average is $99.10 and its 200-day moving average is $98.89. Target Corporation has a one year low of $87.35 and a one year high of $161.50. The company has a quick ratio of 0.32, a current ratio of 0.99 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.04 by $0.01. Target had a return on equity of 23.43% and a net margin of 3.72%.The business had revenue of $24.99 billion during the quarter, compared to analyst estimates of $24.84 billion. During the same period in the prior year, the company posted $2.57 EPS. The business's revenue for the quarter was down .9% compared to the same quarter last year. Target has set its FY 2025 guidance at 7.000-9.000 EPS. As a group, equities analysts predict that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be issued a $1.14 dividend. This is a positive change from Target's previous quarterly dividend of $1.12. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $4.56 dividend on an annualized basis and a yield of 5.2%. Target's dividend payout ratio is currently 53.15%.

Target Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.